Consumer prices in the OECD countries accelerated in July

In particular, the rise in food prices accelerated the rate of increase in consumer prices in the member countries of the Organization for Economic Cooperation and Development (OECD) in July.

Annual inflation in the 35 member countries of the OECD averaged 2.1 percent, up 0.1 percent from the 2 percent of June, according to data released Tuesday on the OECD’s website.

In July, energy prices in the OECD countries remained flat year-on-year, while food prices accelerated to 2.2 percent from the 2.1 percent of June. (MTI)